India’s Edelweiss Financial Services has agreed to buy the securities business of local firm Religare Enterprises for an undisclosed sum.
The deal, currently subject to regulatory approvals, includes securities and commodities broking, as well as depository participant services of Religare.
Go deeper with GlobalData
The acquisition will add around 1,250 points of presence including over 90 branches across India and nearly 1 million clients to Edelweiss’ portfolio. All employees of the acquired entity will join Edelweiss as part of the deal.
Edelweiss Global Wealth Management head of personal wealth advisory Rahul Jain said: “The acquisition of Religare’s business helps us expand our geographical reach and distribution footprint, while almost trebling our client base.”
Edelweiss Group CEO of global wealth & asset management Nitin Jain added: “The complementary nature of Religare’s business to our wealth management platform made for an attractive choice, as it expands our offering and supports our growth plans.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
